Today in the News: Janet Yellen nominated to head Federal Reserve

Wednesday

Oct 9, 2013 at 5:05 PM

News on Janet Yellen, military survivor benefits and car technology.

News to know

Janet Yellen was formally nominated by President Barack Obama today to head the Federal Reserve. Yellen would become the first female in the role and would be the first Democrat since President Jimmy Carter’s nominee, Paul Volcker. The current chief, Ben Bernanke, is retiring next January.

Quote of note

"I am offended, outraged, and embarrassed that the government shutdown had prevented the Department of Defense from fulfilling this most sacred responsibility in a timely manner." - Defense Secretary Chuck Hagel, talking about the fact that families of fallen troops were not being paid survivor benefits because of the government shutdown. A deal was reached by the Pentagon and a private company to make sure the payments are made. Earlier in the day, the House of Representatives voted to resume paying the benefits.

Hot video: Amazing car tech advances about to hit showrooms

The cars of the future will not only be able to park themselves, they'll also be able to talk to each other. Ford has been showing off new automated technology, which it hopes to install in its vehicles of tomorrow.

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